Treasurys Slump After GDP, Jobless Claims
NEW YORK — Treasurys fell sharply on Thursday, sending yields higher, as an unchanged final reading of fourth-quarter growth and a drop in jobless claims eased concerns about the economy. The benchmark 10-year Treasury bond was down 0.9% at 99.20, yielding 3.535%. Ahead of the data, the yield, that moves inversely to price, stood at 3.495%. The 2-year note eased 0.05% to 100.01, yielding 1.722%, while the 30-year bond lost 1.8% to 99.18, yielding 4.4%. The Commerce Department on Thursday said its 0.6% estimate for gross domestic product was unrevised from the previous two estimates. It was exactly as forecast by economists surveyed by MarketWatch. First-time claims for state unemployment benefits for the week ending March 22 fell 9,000 to 366,000, the Labor Department reported Thursday.
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